In 2011 and subsequent 3 year the growth of Azerbaijani economy's competitiveness will be accelerated, in the next year and in the medium term the development of country's non-oil sector will continue, the Economic Development Minister Shahin Mustafayev said Tuesday to AzTV state channel.

According to Mustafayev, the exchange rate of the Azerbaijani manat to the U.S. dollar will remain stable too - at 0.804 AZN for 1$.

"In the next year and in the medium term, the diversification of Azerbaijan's economy will continue. According to the result of the nine months of this year we are already seeing that results are yielded in diversification ", said the minister.

Mustafayev said that for the 9 months of 2010, GDP growth was 4.1 percent, while the growth rate of non-oil sector exceeded the growth of the oil sector, making 5.2 per cent.